The weekly operating rate of aluminum wires and cables rose slightly, and photovoltaic order production has a positive trend [SMM analysis]

The average operating rate of leading aluminum wire and cable companies rose 0.4 percentage points WoW to 64.6%. This week, due to production needs during the Labour Day holiday, the stockpiling willingness of downstream wire and cable companies has increased, and the trading sentiment in the spot aluminum rod market has improved in the middle of the week. However, after a slight rebound in aluminum prices, market trading sentiment somewhat declined. During the week, downstream companies showed signs of improvement in photovoltaic order production, and transactions in the spot aluminum rods market rebounded significantly. However, according to feedback from companies, photovoltaic export orders are still the backlog orders, and there has been no significant increase in new orders. With the improving trend in photovoltaic order production and the support of State Grid's orders, the industry's overall operating rate is expected to remain high in May.